One of Tanzania's largest commercial banks is looking to improve letter of credit (L/C) availability in Comoros.

Exim Bank Tanzania says it is preparing to open two additional branches in the African archipelago island state after recording strong performance in its five years of operations there.

Branch expansion

Exim Bank Comoros currently operates two branches, one in the capital city of Moroni and one on the island of Anjouan.

The bank has operated for five years in Comoros where it now serves 18,000 customers.

Trade services

Exim Bank Comoros says it wants to expand the range of trade services it offers and encourage bilateral trade between Tanzania and Comoros.

The bank will do this by offering L/Cs, funds transfers and other banking services from its branch network as well as its mobile banking service.

SME focus

The bank says it also wants to sharpen its focus on services for small- and medium-sized enterprises (SMEs) in the country.

French development finance institution, PROPARCO, provided Exim Bank Comoros with a EUR 4 million loan in 2010 to help the bank provide more banking services for SMEs in Comoros.

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